Renewable Diesel Feedstock Perspective
GREEN FINANCING FRAMEWORK
Montana Renewables' Green Financing Framework is aligned with the four core components of the Green Bond Principles and the Green Loan
Principles as well as the key recommendations of the applicable principles regarding frameworks and external reviews
Use of Proceeds
Eligible Categories: Clean Transportation & Sustainable Water and
Wastewater Management
■ Lookback Period: 12 Months(1)
■ UN Sustainability Goal Alignment:
◉
6
CLEAN WATER
AFFORDABLE AND
AND SANITATION
CLEAN ENERGY
11
AND COMMUNITIES
12
RESPONSIBLE
CONSUMPTION
13 CLIMATE
ACTION
AND PRODUCTION
Management of Proceeds
Full allocation of net proceeds anticipated within three years of
issuance
Pending allocation, unallocated proceeds will be managed according
to Montana Renewables' normal cash management practices
■ We will not knowingly allocate proceeds from any Green Financing to
expenditures which received an allocation of proceeds under any
other Green Financing
S&P Global
Ratings
Process Evaluation and Selection
■ Montana Renewables will establish a Green Finance Committee of
representatives from our Finance, Treasury, and ESG teams
■ Calumet's existing policies and procedures fully apply to MRL. In the
second half of 2022, MRL plans to create our own standalone
policies and procedures
"
These policies and procedures will help to mitigate environmental
and/or social risks associated with Eligible Green Projects
Reporting
During the term of any Green Financing, the company will provide
allocation and impact reporting at least annually until full allocation
and as necessary thereafter
Example Impact Metrics include: Annual GHG emissions
reduced/avoided, Annual number of barrels of renewable fuel
produced, annual standard cubic feet of renewable hydrogen
produced
"In our view, Montana Renewables Green Financing Framework, is aligned with the
Green Bond Principles and the Green Loan Principles"
(1) Expenditures look-back period limited to November 18, 2021, when Montana Renewables was established.
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